7 CFR 400.412 - Record retention.

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§ 400.412 Record retention.

(a) FCIC or the insurance provider will retain all records of policyholders for a period of not less than 3 years from the date of final action on a policy for the crop year, unless further maintenance of specific records is requested by FCIC. Final actions on insurance policies include conclusion of insurance events, such as the latest of termination of the policy, completion of loss adjustment, or satisfaction of claim.

(b) The statute of limitations for FCIC contract claims may permit litigation to be instituted after the period of record retention. Destruction of records prior to the expiration of the statute of limitations will not provide a defense to any action by FCIC against any private insurance company.

[62 FR 28609, May 27, 1997]

This is a list of United States Code sections, Statutes at Large, Public Laws, and Presidential Documents, which provide rulemaking authority for this CFR Part.

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United States Code
U.S. Code: Title 7 - AGRICULTURE
Public Laws

Title 7 published on 2015-01-01

The following are ALL rules, proposed rules, and notices (chronologically) published in the Federal Register relating to 7 CFR Part 400 after this date.

  • 2015-03-18; vol. 80 # 52 - Wednesday, March 18, 2015
    1. 80 FR 14030 - General Administrative Regulations; Subpart X—Interpretations of Statutory Provisions, Policy Provisions, and Procedures
      GPO FDSys XML | Text
      DEPARTMENT OF AGRICULTURE, Federal Crop Insurance Corporation
      Proposed rule.
      Written comments and opinions on this proposed rule will be accepted until close of business April 17, 2015 and will be considered when the rule is to be made final.
      7 CFR Part 400